RUBRICORE – Metatrader 5 Pros and Cons, There are many kinds of investment options people can find but it seems that forex trading is still pretty popular. It can offer you a high-profit opportunity but at the same time, you have to be ready with its high risk as well.
When trading forex, you need a platform to do it. One of the most popular platforms for trading forex is the MetaTrader 4. Nowadays, it is replaced with the metatrader 5 although it is still in public testing. Let’s find out further about its pros and cons before using this platform.
Metatrader 5 Pros and Cons
Pros
By using this platform, you will be able to watch the depth of the market before making any purchase or selling forex. You can do this because this app comes with Market Liquidity Pool. It must be advantageous for you because you can avoid low-volume instruments of trading that do not come with good enough liquidity.
The metatrader 5 app will also provide you several types of execution including Exchange, Request, Instant, and Market. This feature must be very useful to meet every trader’s need for execution. There is no need to worry that the remote agent will dump your expert advisor’s code because it will never be stored on the agent’s hard disk. It will be modified before it is passed to the agent. It means that the agent will not know the expert advisor’s name as well.
Whether you are a beginner or expert trader, you will find that this app is very flexible and also reliable. That is why you can trade clearly and efficiently with this app. You can also find almost all of the popular indicators for trading. Since the metatrader 5 is a replacement for its previous version, you can expect that there is an enhancement for encryption and security.
Cons
Unfortunately, there is no platform perfect for trading forex. You can also find some flaws in this app. The biggest disadvantage of this app is that you cannot perform hedging with this app although it is a great way to manage risk.
If you have used custom indicators and expert advisors that are written with MQL4 when trading with MT4, you have to make a new code with MQL 5 if you want to use them on the latest platform version.
You might think that MT5 is the improvement of MT$ but the code for MT5 is written from scratch. It means that there might be many bugs when using the metatrader 5 for trading.